Cwm LLC Has $2.68 Million Stock Position in Prudential Financial, Inc. $PRU

Cwm LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 56.3% in the second quarter, Holdings Channel.com reports. The firm owned 24,965 shares of the financial services provider’s stock after purchasing an additional 8,989 shares during the period. Cwm LLC’s holdings in Prudential Financial were worth $2,682,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Proffitt & Goodson Inc. boosted its position in Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 98 shares during the last quarter. SPC Financial Inc. boosted its position in Prudential Financial by 2.6% during the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 100 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Prudential Financial by 2.6% during the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after buying an additional 101 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Prudential Financial by 0.3% during the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock valued at $3,847,000 after buying an additional 108 shares in the last quarter. Finally, Principle Wealth Partners LLC raised its holdings in Prudential Financial by 0.3% during the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock valued at $4,723,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.9%

Prudential Financial stock opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The business’s 50-day simple moving average is $105.06 and its 200-day simple moving average is $104.11. The firm has a market capitalization of $35.47 billion, a PE ratio of 22.34, a PEG ratio of 0.89 and a beta of 1.04. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $8.35 billion for the quarter. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Piper Sandler cut their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Barclays dropped their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $122.27.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.